Reference no: EM132411610
Basic Entrepreneurship - University of Malaysia, Terengganu
Business plan
As a prospective entrepreneur you are required to prepare the business plan for an upcoming enterprise or for a product/ service offered by an existing business enterprise. The business should be formulated as a private limited company and may operate many modes.
Objectives:
This assignment should enable students to:
1. Develop the outline for a business enterprise
2. Demonstrate an understanding of the procedures involved in the registering of a business unit
3. Prepare the necessary legal documents required for a business
GUIDELINES
The business plan represents a combination of various sub-plans covering the broad areas of activity in a business operation. The outline should include the following:
1. Executive Summary
- a succinct highlight of the overall plan - include ownership structure, business address. product/service, the market opportunity and company strategy, strengths of the management team, and the proposal/request.
2. Industry Analysis
an overview of the industry, including consideration of the competition , legal constraints. statutory requirements, regulatory bodies, etc.
3. Definition of the Business
- explanation of the business concept, the current offering, and the projected growth
4. Purpose of the Business Plan dominant reason for the preparation of the business plan
5. Business Feasibility
analysis of the demand (include highlights of the findings of the market feasibility study), risk (include business and market risks), environmental impact
6. Justification of the Business
- Economic, social, and personal benefits
7. Organization and Management
Vision and mission statement, corporate goals, managerial competence. organizational structure and organizational chart
8. Human Resources
- sourcing and staffing considerations. arrangements for training and development
9. Operational Considerations
- location, technical requirements (explain key business processes). equipment requires (state whether it is a manufacturing or retail business). suppliers of raw materials, utilities, opening hours etc.
10. Marketing Arrangements
- target market, definition of the product or service, pricing, distribution. promotion
11. Financial Considerations
- sources of financing, capital cost, pre-operating expenses, working capital requirements, breakeven analysis (where possible), cash budget over three years, budgeted accounting statements over three years.
12. Implementation Schedule
- stages of activities six months before to six month s after the startup date, accompanied by a Gantt Chart.
13. Appendices
- tools used in feasibility study: profile of management team, letters of commitment from prospective suppliers and clients: samples of product design, labels, promotional campaigns, floor plan and legal documents
14. References
- bibliography, credits, acknowledgements